In our modern economy, the biggest wellspring of new jobs isn’t the information sector, as hype might lead some to think, but the somewhat nebulous category of business services. Over the past decade, business services has emerged as easily the largest high-wage sector in the United States, employing 19.1 million people. These are the white-collar jobs that most people believe offer a ladder into the middle class. read more »
Recent revelations about the firing of American tech workers and their replacement by temporary visa holders reveal, in the starkest way, why many Americans are wary of the impact of untrammeled immigration. Workers in American companies have been removed from their jobs not because they could not perform them, but because their replacements, largely from India, are simply cheaper and, likely, more malleable. read more »
The deindustrialization of the United States has been widely considered to be a major force in shaping the economy. It’s one thing to measure where decline has been greatest but where has manufacturing survived or even grown? I use Bureau of Labor Statistics data on manufacturing jobs by county for 1967 and 2014. The results were so surprising that I at first could not believe it. read more »
We are supposed to be moving rapidly into the “information era,” but the future, as science fiction author William Gibson suggested, is not “evenly distributed.” For most of the U.S., the boomlet in software, Internet publishing, search and other “disruptive” cyber companies has hardly been a windfall in terms of employment. read more »
Every social, economic, and public policy issue can be seen, at its base, as a family issue. The data and evidence are overwhelming, and have been for decades: family structure is the principal variable in the entire list of economic and social indicators. read more »
A look at job growth in America’s small and medium-size cities provides a very different, perhaps more intimate portrait of the ground-level economy across a wider swathe of the country than our survey last week of The Best Big Cities For Jobs. It takes us to many states that lack large cities, particularly in the Midwest and South. read more »
Maybe it’s that reporters don’t like malls. After all they tend to be young, highly urban, single, and highly educated, not the key demographic at your local Macy’s, much less H&M.
But for years now, the conventional wisdom in the media is that the mall—particularly in the suburbs—is doomed. Here a typical sample from The Guardian: “Once-proud visions of suburban utopia are left to rot as online shopping and the resurgence of city centers make malls increasingly irrelevant to young people.” read more »
Since the U.S. economy imploded in 2008, there’s been a steady shift in leadership in job growth among our major metropolitan areas. In the earliest years, the cities that did the best were those on the East Coast that hosted the two prime beneficiaries of Washington’s resuscitation efforts, the financial industry and the federal bureaucracy. Then the baton was passed to metro areas riding the boom in the energy sector, which, if not totally dead in its tracks, is clearly weaker. read more »
Real gross domestic product is growing at an anemic pace. Exports are down, and state and local governments are spending less. The consumer price index is falling in a condition known as deflation. Even national defense spending is down. Despite the bad news, consumer spending and home building are rising. Real disposable personal income is roaring ahead at growth rates of 6.2 percent in the first quarter of 2015 and 3.6 percent at the end of 2014. read more »
Australia’s inner city areas and CBDs are a focus of media and public policy attention, with good reason. But it’s also true that the real engines of employment are outside the inner city areas and that the dominant role of our suburban economy as an economic engine is grossly understated, even ignored. This is not good public policy. It’s not even common sense.
I have a view that the focus on urban renewal and inner urban economic development has become a policy obsession of late. read more »